BTC and ETH have had a good run the last few days. Currently consolidating on the daily and 4hourly, BTC appears to be forming a flag, with the past of least resistance to the upside. The measured move off the daily chart projects a possible target of 13-14k. A pullback to gaps on the CME futures at 9600 may also be in order, so ensure you have your stops set if...
After failing to follow through with that H&S formed last week, we have printed some support/resistance for APT. The path of least resistance will be to follow the trend upward, and likely where we will go from here, but wait for confirmation before taking any trade.
I'll be watching APT over the next week to see if this correction takes place, opening up another possible buying opportunity. We are currently printing a head & shoulders w/ the projected price movement ending up between 61.8 and 78.6. Profits have already been taken from my previous trades, and I suggest anyone with skin in the game ensures they pay themselves.
Will be watching closely over the next few days. If that bearish engulfing is confirmed with a print below 3.01, I will likely short. Indicators are flashing overbought, divergences in RSI and MACD. Will update if trade fires and I can find shares to short. :P
Pre-open XJO (12/6/2020). Trend lines in price and RSI (x2) broken yesterday. Not necessarily confirmed as we need to see structure and/or continuation below to know for sure, but if you're heavy in equities you might want to watch this closely..
Some thoughts on the S&P/ASX200 (XJO) for any Aussies out there. Looking at the daily chart. 1) Price and RSI trends seem to be intact currently (would take a big fall to break today). 2) MACD working on but has not confirmed a bearish divergence 3) Willy overbought 4) We are about 5% away from the 200sma. I recon this will act like a magnet to pull the XJO...
Yesterday the SPY broke above an important level (GAP) at 302. It also confirmed two consecutive days above the 200sma. Interestingly enough on the last close it printed a bearish hangman candlestick. It'll be interesting to see what happens into the end of the week. If we can keep above the 200sma and print a proper bullish structure (double bottom etc), then the...
APT has just blasted through that short zone (red box) in last few days. All secondary to Tencent bought at 5% stake. Will it keep going up or is this a 'sell the news' scenario? Honestly I've been trying to get in at a good level for a while now and do believe in the fundamentals underlying APT, but you can't FOMO buy levels like this. Also I'm a little wary...
Will be interesting to see if we truly break through this trend line that is currently acting as resistance. Internals don't look amazing (need to zoom in to see). I'm going to wait until we have clearly broken up or down here over the next few days.
Looking to pick up this long at 0.165 (bid working). Target will be 50% of previous move with trailing stops. Internals look pretty good - Willy oversold, previous divergence in MACD. I still think the overall market is f***ed and heading down down down, but maybe get a quick trade in here. Will update if filled.
